The model of socially oriented accounting and reporting: organizational components

Economic development should ensure harmonious development of societY as a whole and also an increasing level of social protection for the population. Effective development of anY societY requires achieving the highest possible level of the alignment of public interests. Under these conditions, there is an urgent need for the accounting that would take into consideration not onlY the financial but also social (environmental, labor) results of a companY and would provide reliable and complete information. In this regard, the article is devoted to the studY of anaccounting modeling process, which was taken as a basis for the formation of a sociallY oriented model of accounting. The article reveals how different scientists view the essence of modeling in accounting, from simulation of individual accounts to understanding modeling as an element of accounting. The model of sociallY oriented accounting proposed bY the authors includes three components: organizational, technical and methodological. Detailed consideration is given to the implementation of the organizational components. The authors analYze several organizational models of sociallY oriented accounting, including their advantages and disadvantages, as well as the procedure of formation of indicators for financial and social reporting. The model of organizing sociallY oriented accounting and reporting that has been formed and described is based on creating a separate local area to incorporate the costs of sociallY responsible activities bY means of analYtical accounts. The studY of the organizational components of the sociallY oriented accounting model predetermines the directions for further research, concerning the study of the model's technical and methodological components.